Timberline's Butte Highlands Joint Venture is the first example of the Company's strategy to enter into creative structures that move production responsibility to other parties while allowing exposure to gold production, where financing has been provided by a third party with proven expertise in underground mine development and operation. This has been achieved with no dilution to Timberline shareholders. As noted, all expenditures relating to the development of the projected underground mine are being paid by Timberline's joint venture partner, with a total expected development budget of USD $17 million.In addition, during 2010, Timberline is undertaking an exploration program at the property with a goal of extending the mineralized zones by way of drilling seven holes totaling 7,000 feet, geophysics and geochemistry with a total budget of USD $650,000. Results will be released as the Company evaluates assay results during the next two months.
Timberline Issues Corporate Update
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